TheRev, May 2017
Momentum continued to build this month in just about every facet of the project, with arguably the most pivotal component – industry adoption – taking the forefront. First, let us start with a recap of some noteworthy announcements made during the past month.
- Blog: On Inflation, Liquidity, and the Tokes Corporate Reserve – In this piece we discussed the management and mechanics of the unsold units from the ICO. Coincidentally, the Ripple team released a very similar strategy some time following our announcement, as they are posed with a situation much like ours. This blog post elicited some meaningful conversation in the community Slack. Chime in on the discussion via the #improvement_proposals channel in the Tokes Slack!
- Blog: Roadmap 1.0 – This update presented a more thoroughly designed roadmap for our Technology Stack, Tangible Products, and Consumer Advocacy segments over the course of the next two years.
- Tokes Faucet: Building upon Sphearis’ WAVES faucet, Minh Tran developed a working faucet for the Tokes Platform, located at http://WeTakeTokes.com. Followers can utilize the site to receive between .01-.05 TKS every hour. While the amount is relatively small, the idea is large. Promoting this tool can help us broaden our reach to new potential community members and supporters.
The big news this month revolves around several large partnership agreements we’ve been arranging. Some in the cannabis space and some in the blockchain space:
Herbology Tours: Herbology provides educational and entertaining tours to several dispensaries in Las Vegas, with some tours including a beer brewery experience as well. This concept was one we initially intended to execute ourselves and was loosely referenced in some of our early interviews. However, we recently discovered a close personal relationship with someone already operating the business model. As it would seem inefficient to re-create the wheel here, we determined a partnership would be a more suitable approach.
The general premise of the partnership is that a nominal amount of TOKES will be provided as part of the tour package purchase – approximately $20 worth. Customers will then redeem their TOKES through a mobile wallet (initially the WAVES wallet, and eventually the TOKES mobile wallet), which they can spend at point-of-sale terminals within the dispensaries visited. This will provide TOKES exposure to cannabis consumers outside the blockchain space, and serve as a trial period demonstrating the features and benefits of a digital currency like TOKES. Any costs associated with this project will initially be covered out of our company capital as a marketing expense. Customers will also be directed to Bittrex should they wish to purchase additional units to be used in store.
We are anticipating initial adoption at 3-5 dispensaries and exposure to hundreds of people monthly on these tours. Tour bookings have been increasing substantially as Herbology grows, and we expect significant volumes once recreational sales go into full effect in Nevada, which is proposed to take place July 1st, 2017.
SD6.tech: SD6 is designed as a centralized platform for all businesses in the cannabis industry. Per their website, SD6 helps “Build brand awareness, discover new products and partners, and manage vendor relationships.” They additionally intend to be a key resource for consumers looking for information about cannabis and the cannabis industry. Their vision is closely aligned with ours in terms of consumer advocacy, and this partnership can enhance our exposure to cannabis professionals. TOKES will be the first digital currency partner with the platform!
Undisclosed – Debit Card: Additionally, we have a very exciting partnership arrangement forming with another project in the blockchain space. While we want to maintain discretion until we progress with the agreement, the potential partner provides a Debit Card solution backed by a portfolio of digital currencies. Having the ability to spend TOKES in a dispensary with a debit card could significantly reduce the barriers to entry we face in attracting consumers to digital currency. We’re very excited about the prospect of this partnership, and will continue to update you as to our progress.
Marketing, Media, and PR
We continued our marketing efforts this month through enhanced social media engagement, managed largely by members of our own community. We are in the final stages of preparing the Bounty 2.0 program, which will target high quality content producers to help expand our reach. We also had several articles published this month on our platform, including a BraveNewCoin newsletter attachment and a wonderful write up by Kanoptx over at Core Media. You can find the latter here: https://joom.ag/L7jW
And finally, we’re continually working to enhance our branding and imagery. To that end, we have engaged with a designer to re-envision our logo and create a visual guide for those interested in using our visual assets. For those interested, we previously announced that we redesigned our bitcointalk.org signature assets, which can be found on our announcement page: https://goo.gl/RxLz4I. More on this in the coming months!
While our focus this month was dedicated primarily to relationship building, the recovery bar and product development are still in the works, and we expect to have development news on these fronts later this summer. We’re looking forward to finalizing the aforementioned partnerships and becoming the first cannabis-based digital currency project to foster true mainstream adoption. As always, we sincerely appreciate the support and camaraderie of our community. We hope you’ll join us in slack for daily conversations and more regular updates. Until next time…
Here’s to something new. Here’s to the revolution.